Gavin Thompson

Gavin Thompson News

China, the world’s biggest energy user, will take a different course from the U.S. in unconventional gas development because of “unique” geological, technical and commercial reasons, consultant Wood Mackenzie said.

Chinese consumers may buy natural gas at more than five times current U.S. futures prices as the government eases control over domestic costs, opening the world’s biggest energy market to more overseas sellers.

PetroChina Co., the country’s biggest oil and gas producer, and the nation’s utilities stand to win from Russia’s $400 billion deal to supply gas to China, which will will provide the fuel at a price lower than expected.

Escalating costs to build liquefied natural gas plants on land in Australia, where energy workers earn the highest salaries in the world, are driving developers out to sea in search of billions of dollars in savings.